Linkedin settles password link lawsuit

California – Business oriented social networking service Linkedin has settled a lawsuit over a massive password leak. As reported by WebProNews, the lawsuit was filed after Russian hackers exposed more than 6.5 million passwords of users of the network in 2012.

The breach affected paid as well as unpaid users; however, the class action lawsuit only pertained to premium or paid users of LinkedIn.

The recently approved settlement will set up a fund for $1.25 million for those impacted. Premium subscribers, which amount to approximately 800,000 users, must file their claim by May 2, 2015 in order to receive compensation of up $50 each.

LinkedIn is quoted in the report as stating of the matter, “Following the dismissal of every other claim associated with this lawsuit, LinkedIn has agreed to this settlement to avoid the distraction and expense of ongoing litigation.”